Digital marketing software provider Kenshoo said Wednesday that it has raised $20 million in financing. Bain Capital Ventures led the round with participation from return backers Sequoia Capital, Arts Alliance and Tenaya Capital. Also, Deepak Sindwani, a partner at Bain Capital Ventures, has been added to Kenshoo’s board of directors.
SAN FRANCISCO, April 9, 2014 /PRNewswire/ —
Kenshoo, the global leader in predictive media optimization technology, today announced a $20 million growth financing round led by Bain Capital Ventures. Kenshoo’s existing investors, Sequoia Capital, Arts Alliance, and Tenaya Capital also participated in the round. The company plans to use the funding to further disrupt the digital marketing technology space with its proprietary approach to predictive media optimization.
Kenshoo currently delivers more than 1 trillion digital advertisements on an annualized basis and tracks over $200 billion in annualized online client sales revenue. Earlier this week, Kenshoo announced that its Halogen solution had emerged from beta after enabling marketers to increase revenue by 53% and investment by 36% across 90+ budget plans. Kenshoo Halogen is the world’s most advanced and accurate predictive modeling engine and powers various components of the Kenshoo platform to automatically optimize campaigns.
“Bain Capital Ventures has a significant practice investing in technology innovation for Chief Marketing Officers. We are very impressed with Kenshoo’s market-leading platform for predictive media optimization and its track-record with world’s largest and most sophisticated digital marketers,” said Deepak Sindwani, Partner, Bain Capital Ventures, who will join Kenshoo’s board of directors. “Kenshoo’s stellar customer base, innovative product roadmap and technology leadership, impressive growth trajectory, and team were all key drivers for our investment. We look forward to helping Kenshoo continue to disrupt the space and build an enduring company.”
“From the beginning, Kenshoo’s focus has been finding and creating solutions to the most complex problems marketers face on a daily basis,” said Yoav Izhar-Prato, co-founder and chief executive officer of Kenshoo. “Our new partnership with Bain Capital Ventures and the continued support of existing investors is evidence of the strength of the digital marketing industry as well as Kenshoo’s unique positioning with predictive media optimization.”
“Sequoia Capital has always been impressed with Kenshoo’s industry leadership and pace of innovation,” added Shmil Levy, Partner at Sequoia Capital and member of Kenshoo’s board of directors. “We are excited to partner with Bain Capital in helping Kenshoo continue reshaping the marketing sector.”
In recognition of its corporate strategy and current offering, Kenshoo was named the sole leader in a Social ad platforms evaluation by independent research firm, Forrester Research Inc. in The Forrester Wave™: Social Advertising Platforms, Q4 2013 after previously being named the sole leader in The Forrester Wave, Bid Management Platforms, Q4 2012. Kenshoo was also recently named the winner of the European Search Awards and US Search Awards for Best PPC Management Software.
Kenshoo is a global software company that engineers cloud-based digital marketing solutions and predictive media optimization technology. Brands, agencies and developers use Kenshoo Search, Kenshoo Social, Kenshoo Local, and Kenshoo SmartPath to direct more than $200 billion in annualized online client sales revenue through the platform. Kenshoo is the only Facebook strategic Preferred Marketing Developer with native API solutions for ads across Facebook, FBX, Twitter, Google, Yahoo, Yahoo Japan, Bing, Baidu and CityGrid. Kenshoo powers campaigns in more than 190 countries for nearly half of the Fortune 50 and all 10 top global ad agency networks. Kenshoo clients include CareerBuilder, Expedia, Facebook, KAYAK, Havas Media, iREP, John Lewis, Resolution Media, Sears, Starcom MediaVest Group, Tesco, Travelocity, Walgreens, and Zappos. Kenshoo has 22 international locations and is backed by Sequoia Capital, Arts Alliance, Tenaya Capital and Bain Capital Ventures. Please visit http://www.Kenshoo.com for more information.
About Bain Capital Ventures
Bain Capital Ventures is the venture arm within Bain Capital, which has approximately $70 billion of assets under management worldwide. The firm’s history of investing in early stage companies dates back to 1984 with over 125 venture investments since inception. Bain Capital Ventures manages over $2 billion of assets, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has helped steer many ideas to success by working in partnership with management teams, pairing talented and passionate entrepreneurs with industry experts, opening doors to customers, and collaborating on long-term strategies. For more information, please visit http://www.baincapitalventures.com.